Pound Sterling-Dollar Right Smack In The Middle

Jun. 18, 2014 1:45 AM ET

Yes, there is definitely no other way to describe it. GBP/USD is on a tug-of-war between two worlds - the bulls and the bears. As it is probable that it is on its way to retest the 8000 level, it may also be on the pull-back to the 6000 mark - a strong psychological level which was, in two-and-a-half years, an unbroken territory. This is an exact moment to stop and smell the roses - wait and not rush, because, as they say in the movies, "fools rush in". SEE CHART HERE.